American International Group, Inc. (AIG) has reorganized Chartis, its global property and casualty business, and appointed a new management team.
Under the new structure, Chartis will consist of two major global groups – commercial and consumer. John Q. Doyle, previously Chartis U.S.’s CEO, will run the global commercial business. Jeffrey L. Hayman, currently Chartis’ chief administrative officer, will lead the global consumer business.
It will also include four principle regions:
• U.S./Canada, led by Peter J. Eastwood;
• Far East; and
• Growth Economics.
“Our top priorities for our property casualty businesses are to strengthen all aspects of our underwriting, claims management, reserving and risk management so that we consistently earn the right risk-adjusted returns,” said Robert H. Benmosche, AIG’s president and CEO.
“We believe this model – which aligns accountability for the business we write today with the long-term performance of that business – will drive the creation of even better products and services for our clients while delivering the performance that our clients and the investment community expect of us.”